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During Government session, newly appointed Prime Minister, Karen Karapetyan was asked what solutions he could suggest for the fight against monopolies and shadow economy.

Karen Karapetyan said that he’s ready to be open and honest working with the National Assembly.
Concerning the fight against the shadow economy, the Prime Minister noted that without fighting, it would be impossible to reproduce Armenia’s economy.

“Without fighting against the shadow economy, Armenia has no solution to reproduce its economy. We’ll see however effective the results will be,” he said.

Speaking about the fight against monopolies, Karen Karapetyan added that those aren’t always bad. “It depends on the nature of monopoly, whether it’s normal or not. The market is small, and one of the players may hold a monopoly position through efficient operation. However, it’s another question whether he gets there through competition or the expense of administrative resources.”

Speaking about the new Tax Code, which, according to one of the deputies limits business opportunities, the Prime Minister said that he had managed to study it. “That’s a difficult question. I’ve studied it. However, I don’t have any solutions yet. We’ll speak about it later.”